Author: openjargon
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Marketing leaders have to help their companies keep pace with the rapidly changing worlds of their customers, says Elizabeth Rutledge, CMO of American Express
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Trump kept classified docs in cardboard boxes with Christmas ornaments and photos of himself: feds
Photos taken by former property manager Walt Nauta in December of 2021 show spilled boxes from a Mar-a-Lago storage room that prosecutors say contained classified documents. DOJ/Business Insider
- The feds released new details of the "haphazard" way they say Trump kept documents at Mar-a-Lago.
- Classified documents were found in boxes with Christmas ornaments and photos of himself, they said.
- Prosecutors revealed these details in fighting Trump's claims that they, not he, were careless.
Federal prosecutors released new details of the "haphazard" way they say Donald Trump stored classified documents at Mar-a-Lago — including inside boxes that also held Christmas ornaments.
Trump treated the nation's secrets like random "keepsakes," special counsel Jack Smith complained in a new classified documents case filing Monday night.
The 30-page filing challenges defense claims that prosecutors were the ones who were reckless with classified documents.
It alleges in the greatest detail yet how Trump commingled secrets and mementos in "disordered" stacks of tumbling, spilling boxes. It's the latest court battle to delay a trial date indefinitely.
"Trump personally chose to keep documents containing some of the nation's most highly guarded secrets in cardboard boxes," including printer-paper boxes with lids, Smith's team wrote.
Classified documents were stored "along with a collection of other personally chosen keepsakes of various sizes and shapes from his presidency — newspapers, thank you notes, Christmas ornaments, magazines, clothing, and photographs of himself and others."
"At the end of his presidency, he took his cluttered collection of keepsakes to Mar-a-Lago, his personal residence and social club, where the boxes traveled from one readily accessible location to another — a public ballroom, an office space, a bathroom, and a basement storage area," prosecutors wrote.
"After they landed in stacks in the storage room, several boxes fell and splayed their contents on the floor, and boxes were moved to Trump's residence on more than one occasion so he could pick through them."
Trump's lawyers are trying to get the case thrown out by complaining about the FBI's admitted shuffling of the order of some documents and objects within their individual boxes as they seized evidence in August, 2022.
The precise order of the items in each box as it left the White House is critical to his defense, Trump's lawyers argue.
The defense has said that dates on news clippings and other personal items demonstrate how long ago classified documents were placed among them, allowing Trump to argue that he then forgot about them and never knowingly possessed them at Mar-a-Lago.
In pushing back Monday, prosecutors said that Trump can raise this as a defense — and the case doesn't need to be thrown out entirely — because they have always maintained "box-to-box integrity."
And Trump himself often rifled through their contents, which also shifted as boxes toppled and spilled, prosecutors also said.
"The FBI agents who conducted the search did so professionally, thoroughly, and carefully under challenging circumstances," they wrote Monday, "particularly given the cluttered state of the boxes and the substantial volume of highly classified documents Trump had retained."
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A day in the life of someone who lives in Montreal — the ‘Paris of North America’
I love living in beautiful Montreal. Mira Miller
- I live in Montreal an idyllic Canadian town in Quebec known as the Paris of North America.
- A typical weekend day for me consists of great food, shopping, and catching up with friends.
- My partner and I often have mellow nights after days full of walking pedestrianized streets.
When you think about a world-class city where most locals speak French, Paris is likely the first place that comes to mind.
But on the other side of the Atlantic Ocean, in the Canadian province of Quebec, lies another one-of-a-kind city brimming with French culture, fine dining, art, and history: Montreal.
Plus, unlike Paris — which is one of the most expensive places to live — Montreal has struck an ideal balance between a low cost of living and a high quality of life. According to Mercer's 2024 cost-of-living data, it's one of only eight cities from a list of 226 to pull that off.
I was lucky enough to grow up in a suburb outside Montreal before moving away at 19 for university. After spending seven years in Toronto, I returned to Montreal last summer and have spent the past year rediscovering everything it has to offer.
Here's how I spend a typical summer Sunday in Montreal.
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Netflix co-CEO explains why the company keeps increasing prices for ad-free plans
Netflix co-CEO Greg Peters spoke to Verge about the company's price hikes. Stephen McCarthy /Web Summit via Getty Images
- Netflix co-CEO Greg Peters explained the streamer's price hikes for ad-free plans.
- He cited viewer demand for diverse, quality shows and adding value as the reason behind the increases.
- Netflix's strategy has led to a significant subscriber boost and $9.37 billion in Q1 revenue.
It seems that every year viewers are watching streaming prices climb more and more — and Netflix is no exception.
Netflix co-CEO Greg Peters explained the company's thinking behind the price hikes in a new interview.
Peters recently told The Verge that the multiple price hikes to its ad-free plans in recent years are an effort to offer consumers a wider range of options — which require added investment to add that value.
"[T]hey want a higher diversity of shows, they want more quality shows, so that's our job," Peters said. "If we do that well, we'll go back and occasionally ask members to pay a little bit more to keep that flywheel running."
Last July, the streaming giant dropped its Basic plan, previously its cheapest ad-free option at $11.99 a month, leaving subscribers to choose between the Standard ad-free plan, which costs $3.50 more, or the more affordable Standard with Ads plan, which costs $6.99 a month. They could also opt for Netflix's priciest plan, Premium ad-free, which increased from $19.99 to $22.99 a month last October.
When asked if Netflix is aiming to increase the number of viewers in the ads tier, Peters responded that "it's definitely not the goal."
"What I would say is that our job is to add more value to the entertainment service that we are offering," he said.
While Netflix may not intend to steer people to its ad-supported plan, those members receive some more good news: the co-CEO hopes to decrease the ad load over time to "provide higher-relevance, higher-value ads."
Peters said that the costs and ad distribution come down to having "a set of prices with the right features so that basically we can attract more members around the world, and they can enjoy the incredible stories that we have available."
And it seems to be working. Netflix smashed expectations for its first quarter earnings, increasing subscribers by 9.33 million worldwide and earning $9.37 billion in revenue.
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A 64-year-old woman outperformed millionaires in the anti-aging ‘Rejuvenation Olympics’ — using a much simpler and cheaper routine
Amy Hardison, a grandmother of 64, currently holds a top rank in the Rejuvenation Olympics for having slowed her biological aging and improved her health. Courtesy of Amy Hardison
- A 64-year-old woman earned top ranks in the Rejuvenation Olympics with a simple anti-aging routine.
- Her daily habits include eating homemade bread, doing exercise she enjoys, and always having dessert.
- She outpaced entrepreneur Bryan Johnson, who spends $2 million a year on his longevity routine.
A 64-year-old grandmother-of-11 has become one of the buzziest names in the longevity world by beating billionaires at anti-aging with a simple and inexpensive routine.
Amy Hardison is reigning in a top spot in the Rejuvenation Olympics, an online leaderboard where people can submit their health stats to show how they've slowed or reduced markers of biological aging.
Earlier this month, she ranked 5th, one spot ahead of tech exec Bryan Johnson, 45, whose famously intense and costly routine has involved over 100 daily supplements and infusions of blood from his teenage son.
Hardison's results (generated from blood samples and other tests) showed she had improved major markers of aging, such cellular senescence (or "zombie" cells that linger and cause damage), telomere shortening, and mitochondrial dysfunction.
No one is more surprised than Hardison herself, who told Business Insider she's not competitive and doesn't even want to live past 100.
"I actually had no clue," she said. "My daughter told me 'Mom, this is kind of a big deal. The guy just underneath you, he spends $2 million a year to get these kinds of results.'"
In contrast, Hardison said she spends about $300 a month on supplements. The rest of her longevity routine costs little or nothing to follow, and there's good science to suggest her habits have helped keep her young and healthy.
"My philosophy is, find what you love, find something that works for you that you could do long-term over your life, and be moderate," she said.
Her diet includes big salads, chocolate, and homemade bread
The foundation of a healthy life is a reliable routine, plenty of homemade bread, and a little treat every day, according to Hardison.
Hardison said she's been a health-conscious eater since she was a teen, watching fad diets come and go. She swears by a moderate approach using principles of intuitive eating while also being mindful of nutrition.
"I'll listen to my body. I will only eat what I love. I savor what I eat," she said.
These days, she wakes up around 6 a.m. While one of the biggest longevity trends, intermittent fasting, involves waiting to eat until a certain time of day, Hardison isn't about that life, and starts her day with a big slice of toast and a glass of chocolate milk.
The bread for her toast is always homemade and whole wheat since she isn't a fan of processed foods.
Sweet treats like a homemade chocolate-chip cookie can be a healthy part of a longevity routine in moderation BURCU ATALAY TANKUT/Getty Images
"We don't eat out a lot just because I think my food's better and I think it's healthier. And I cook because if I'm going to eat, I want it to be good," Hardison said.
She also has a big salad most days for lunch or dinner, loaded with veggies, berries, chicken for protein, and some nuts and cheese. Later in the day, she enjoys another slice of bread.
For dessert, she has a piece of chocolate or a homemade cookie. ("I can't think of the last time I went a day without my little sweet treat," she said.)
Her supplement routine includes magnesium and ginger
Hardison initially got involved with the Rejuvenation Olympics after participating in a clinical trial with the longevity supplement brand NOVOS (who coordinated the interview with BI).
Previously, she had never even taken vitamins.
Her current regimen includes three NOVOS products (Core, Boost, and Vital) which cost around $160 per month.
They include ingredients like:
- Magnesium, which research suggests is good for healthy bones and regulates blood pressure and blood sugar.
- L-theanine, linked to alertness, stress reduction, and a healthy brain
- Ginger, which is rich in antioxidants and supports good digestive health
- Fisetine, an inflammation-fighting compound found naturally in strawberries, onions, and apples.
A gentle mix of cardio and high-intensity training
Hardison's typical workout involves an hour at a moderate pace on the elliptical while listening to audiobooks, followed by short periods of higher intensity. When the weather allows, she does her cardio in the pool instead. She also spends 20-30 minutes a day stretching for better mobility.
Over time, she's adjusted her exercise habits to fit her schedule (aiming for 30 minutes when she was a busy mom, for instance) but always makes time for movement.
"It's an integral part of my day and it's so much fun for me. I think it's important to find what you love enough that you look forward to it," she said.
Don't try to live forever
Unlike many longevity gurus or biohacking enthusiasts, Hardison said she isn't interested in being forever young.
"Growing old is amazing and it's wonderful," she said. "You can only get how sweet it is to have had the experience of life, the good, the bad, the hard things, you only get that by doing it."
Her parents lived into their 90s but, over time, experienced cognitive decline that severely affected their ability to enjoy the things they used to.
"I do not want to go through what they went through," Hardison said. said. "People that maybe are my kid's generation, they're like, 'Well, don't you want to live to 130? No, I don't."
Instead, she's focusing on finding a balance of habits that keep her healthy and able to bask in the life and relationships she's built over the years.
"I'm not trying to stave off old age. I think this is the best age ever."
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A millennial who switched from working on oil rigs to wind turbines says he’s been promoted faster in renewable energy
Shaun Mitchell is an operations and maintenance supervisor at Ocean Winds. Ocean Winds
- Shaun Mitchell left Halliburton for the offshore-wind industry in 2019 and quickly climbed the ranks.
- In early 2023, wind farms became the largest source of electricity in the UK.
- This article is part of "Trends to Bet Your Career On," a series about trending professional opportunities.
Shaun Mitchell wasn't looking for a career change in 2019.
The 30-year-old Scotland native had spent most of his career as an electrical technician at Halliburton, one of the world's largest oil-field-services companies. It offered Mitchell his first apprenticeship after he graduated from North East Scotland College in 2013 with a certificate in electrical engineering. He completed several years of training before heading off to work on offshore oil rigs.
Mitchell saved enough money to take a six-month break and traveled through Thailand, New Zealand, and Australia. He was a freelance electrician in Sydney for a while but then returned home near Aberdeen, Scotland, and got his job back at Halliburton.
In 2019, Mitchell heard from an old supervisor who had since moved into the offshore-wind industry. Vestas, a wind manufacturer, was looking for technicians for a project in Aberdeen Bay, Scotland, and the supervisor recommended Mitchell for the job.
"I wasn't really sure because I was quite used to oil and gas, and I enjoyed it," Mitchell said.
There were drawbacks, however. The work could be unpredictable.
"You'd get a call and have to go offshore the next day, not knowing if you'd be there a couple days or three weeks," he said. "The line of work is good when you're young. But when you start having more commitments, it becomes a little harder."
Mitchell decided to take the interview with Vestas and left Halliburton, wanting to be a wind-turbine technician.
"A lot of my skills from working in the oil and gas industry passed straight into the wind industry, which was really beneficial for me," Mitchell said, adding that wind farms are managed by automated control systems, similar to oil and gas equipment.
The Moray West wind farm under construction off the coast of Scotland. Moray West Offshore Wind Farm – Ocean Winds
He made the jump at a good time. While the UK has been a leader in offshore wind for more than two decades, development has sped up in the past few years — particularly in Scotland — as countries race to meet renewable-energy goals. The UK has the second-largest offshore sector behind China. By early 2023, wind farms became the UK's largest source of electricity, surpassing natural gas.
Britain this year budgeted £1 billion, or about $1.3 billion, for renewable-energy subsidies, with 80% of the funds set aside for new offshore wind farms, Bloomberg reported. The UK government wants to boost offshore-wind capacity by almost fourfold by 2030, and overall employment in the sector is expected to triple by then.
In the US, wind-turbine technician is the fastest-growing job. While the absolute number of new jobs isn't that big, it represents a projected 45% increase between 2022 and 2032, more than any other occupation. Industry groups forecast global demand for about 240,000 new recruits by 2027 across countries including Australia, Brazil, China, Colombia, Egypt, India, Japan, Kenya, South Korea, and the US.
Mitchell spent more than four years at Vestas, starting as a technician and quickly moving up to deputy service supervisor and then shift supervisor. Vestas provided training that paved the way for Mitchell's advancement.
He said that offshore-wind technicians' day-to-day depended on the weather. The seas can't be too rough; otherwise, it's risky for the crew to travel to the wind farm.
The sizes of the vessel and the crew also matter. A larger boat can handle rougher waters. That means there's more work and less downtime. But technicians tend to work a couple of weeks on, a couple of weeks off — so they're away from home for extended periods.
Smaller vessels have to wait for the right weather conditions and ferry back and forth to port each day. Technicians can go home each night, but there's more downtime, especially in the winter, Mitchell said.
"It's rare that an entire wind farm will go down," he added. "But there has been times when multiple turbines go down, but the weather's so rough there's nothing you can do."
The under-construction Moray West wind farm. Moray West Offshore Wind Farm — Ocean Winds.
In October, Mitchell left Vestas for Ocean Winds, a joint venture between EDP Renewables and Engie that's focused on offshore-wind development. He's now the operations and maintenance supervisor at Ocean Winds' Moray West project off the coast of Scotland.
The 882-megawatt project is still under construction. Once it's finished, it will generate enough power for about 1.3 million homes. Mitchell's team will be responsible for maintaining the wind farms' infrastructure both above and below the water, including the cables that carry power to onshore substations.
Mitchell said he'd been able to advance his career in the wind industry a lot faster than in oil and gas. Ocean Winds declined to disclose salary information.
"Oil and gas is quite well established. It's been around for years and years, so there aren't many opportunities to move up quickly," Mitchell said. "With offshore wind, there's always new sites going up, and they need so much personnel. I got in at a lucky time."
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TV shows you won’t believe turn 20 this year
Heidi Klum during a season one episode of "Project Runway." Barbara Nitke/Bravo/NBCU Photo Bank via Getty Images
- TV shows that came out in 2004 are turning 20 this year.
- It might be hard to believe it's been two decades since the premiere of "Entourage" or "House."
- "Project Runway" and "Drake & Josh" were shows that made 2004 iconic.
2004 was a big year.
Mark Zuckerberg released "TheFacebook" as a networking site for Harvard students, the Boston Red Sox won the World Series for the first time in 86 years, the Olympics were held in Athens, Greece, and it was the year of Janet Jackson's infamous Super Bowl wardrobe malfunction.
It was a major year for TV, too. Some iconic, highly lucrative TV shows like "Friends" — which earned its stars and writers an incredible $1.4 billion, according to Forbes — wrapped up in 2004.
But it was also the start of some of the most beloved series of the 2000s, from reality shows to kids' TV.
You might find it hard to believe the following shows got their start 20 years ago. Here's why they were so beloved and where you can watch them today, if you missed out the first time.
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My son has autism and just finished high school, but he can’t go to college. It’s been difficult for me to accept.
The author's son has autism and just graduated from high school. Courtesy of Jenny Bordelove
- My son who has autism just graduated from high school, but he won't be going to college.
- Instead, he will receive benefits from the state for his disability.
- I'm struggling to accept that my son won't have the traditional adulthood I imagined for him.
If ever there was a time for me to stay off social media, it's now. Over the last several months, posts about college acceptances, prom, and year-end celebrations have left me feeling heartbroken — followed by guilt for being upset.
But the truth is, I'm crushed that Evan, my high school senior, didn't participate in most senior-year rites of passage. My son — who was diagnosed with autism as a kid — didn't go away for spring break. He didn't attend prom, and college is definitely not in his future.
While he did participate in his school's graduation ceremony, he received a "certificate of participation." This designation is granted to students with an Individualized Education Plan (IEP) who do not meet the state's graduation requirements, setting him up for a different adulthood than his classmates.
I regret not feeling the full joy of my son's accomplishments
I am continuously asking myself: "What are you lamenting about? Many kids don't go to prom or college, and not everyone graduates with honors or accolades. These so-called markers are not the gold standards of success."
I remind myself that it is a big deal that Evan, who was diagnosed with autism at the age of two, accomplished a lot during his school years. I try to focus on my gratitude and pride that despite his challenges, he's leaving school with basic reading and math skills and has learned many life and social skills along the way.
Still, I can't and won't deny my sadness, but it does feel a little selfish to mourn things that don't bother my son. He's happy to be done with high school. He had no interest in going to prom or traveling to Mexico for spring break. Yet he wanted to attend graduation, and for that, I am thankful.
My conflicting emotions resurfaced for the thousandth time when he walked across the stage. On the one hand, I was happy because I knew he was excited to be done with high school. But, as I looked around the audience, I knew other parents had a different mindset. They weren't, for example, considering an exit strategy for their graduate if the ceremony became too much for their child to handle.
A local paper publishes a Cap & Gown issue, and parents send photos of their graduates, a list of achievements, and college plans. I submitted my son's picture and mentioned his participation in Special Olympics basketball and his plans to attend our school district's adult transition program. I wanted to recognize him and show others that not every graduate has to look good on paper.
Flipping through this section wasn't easy because it reminded me of the hopes and dreams I've had for my child since before he was born. Many aspects of his senior year have been as emotionally challenging as when he was first diagnosed with autism, and my husband and I learned our roles as parents would be different than what we imagined.
I'm looking on the bright side
When his peers filled out college applications, I worked on gathering the required documentation so that when he turned 18, he could apply for Supplemental Security Income (SSI). Because my son's disability limits him in many ways, as an adult, he is eligible for benefits.
In the days leading up to graduation, I filled out more paperwork, ironed his graduation gown, and tried my best to stay off social media. I failed at the last one and suffered the consequences.
One Facebook post hit me hard. It was from the mom of my son's first friends. The boys spent a good amount of time together but drifted apart as their cognitive differences became more apparent. The offending post showed two photos of her son — one from elementary school and the other from high school. In both pictures, he is standing next to the same friend. The caption reads, "These two…friends through it all! Everybody needs a friend like Jonny."
I couldn't help but think, if my son were a neurotypical kid, would her post instead conclude, "Everybody needs a friend like Evan?"
Still, I strive to look at the positives and not focus on the negatives, and it occurs to me that everyone could benefit from a friend like Evan. Evan is fun, funny, non-judgmental, and so much more.
As I try to unpack my mixed bag of emotions surrounding my son's completion of high school and his nontraditional path moving forward, I'm working toward embracing the idea that it's OK to experience the joys and the pains of parenting a child with autism, especially when the traditional milestones end up being unconventional.
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‘Perfect Match’ fans were shocked by the season two winners. Now cast members are claiming secret pacts swayed the vote.
Nigel Jones and Christine Obanor match up in the season two finale. Ana Blumenkron / Netflix
- Warning: spoilers ahead for "Perfect Match" season two.
- Christine Obanor and Nigel Jones were the surprise winners of the show after pairing up in the finale.
- Now cast members are claiming secret pacts helped the pair win.
"Perfect Match" season two fans were surprised when the newest couple were named the show's winners. Now, cast members are accusing each other of forming secret pacts to sway the vote.
The dating series, which has been one of Netflix's most popular TV shows in June, sees contestants from the streamer's reality offering trying to find love.
Every few days, new contestants, who are staying at a hotel separate from the main cast, are brought into the house to shake things up. Anyone left without a partner by the end of the night must leave.
At the end of the series, all the contestants from inside and outside the house come together to vote for a winning couple — but this season's finale was messier than the last.
During the cast reunion that aired on June 21, the singles from outside the house criticized the longer-lasting couples, accusing the male contestants of not being genuine. The cast then voted Christine Obanor and Nigel Jones, the newest couple who got together in the finale, as the winners — angering fans who were rooting for the other couples.
Amid the fan backlash over the result, Chris Hahn and Harry Jowsey claimed contestants who couldn't find a match worked together to vote for Christine and Nigel over the longer-lasting couples.
Christine and Nigel spent most of the series in the hotel, and only came in the house in the final episodes.
On Tuesday's episode of his podcast, "Boyfriend Material with Harry Jowsey," Harry said that the hotel group hated the couples for rejecting them and didn't trust that the longer-lasting couples were loyal to each other, so they voted for their friends, Christine and Nigel.
"I remember sitting down at the finale. I'm like, 'Wait, when did they become a couple? How the fuck did this happen?'" Harry said.
In a TikTok video shared on Friday, Chris accused the hotel group of making a pact to vote for one of their own in the final.
@chrisrhahn The tea that you needed @Netflix #perfectmatchseason2 #fyp #realitytv #perfectmatch #perfectmatchnetflix
"Everyone outside during that pact voted for Nigel and Christine to win it," Chris said. "Are they a good couple? Maybe. I think so. Did they deserve to win 'Perfect Match?' Absolutely not."
But Christine, Nigel, and other castmates from the hotel group have denied this and claimed there was another pact between the couples within the house to keep new contestants out at any cost.
Stevan Ditter, who was in the house for the entire series, also supported this theory.
"The girls kind of had a crazy girl code in the house. They just didn't want new girls in," Stevan told the "The Viall Files" podcast in an episode that aired last week. "They were talking about sending the guys on dates with girls that obviously weren't for them."
It has become a common occurrence in later seasons of reality shows for contestants to become more strategic and competitive, leading to fake relationships for the camera. That may have been the case with "Perfect Match" season two.
Dom Gabriel, who starred in both seasons of "Perfect Match," said the house was a lot more "wholesome" in season one because no one had a "competitive spirit."
Regardless of how Christine and Nigel won, they may have actually been the most compatible couple in the series. Nigel and Christine said on social media after the finale aired that they won a compatibility challenge and went on an extra date during filming but they were cut from the show.
Plus, they seem to be the longest-lasting couple.
Christine said in a YouTube video about her "Perfect Match" experience that she dated Nigel for nine months and that they only officially ended things a month ago.
By contrast, the rest of the couples said in Netflix's "Where Are They Now" video that they had ghosted each other or broken up soon after the show.
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Billionaire LVMH CEO Bernard Arnault is the richest man outside America. Here are 23 of his luxury conglomerate’s iconic brands.
Bernard Arnault is the world's third-richest person. Reuters
- LVMH is the world's largest luxury goods conglomerate. It's owned by Bernard Arnault, the world's third-richest person.
- LVMH's portfolio includes 75 different brands, spanning fashion, Champagne, cosmetics, and more.
- These include Louis Vuitton, Dior, Sephora, Tiffany & Co, Moët & Chandon, and Fenty Beauty.
- Visit Business Insider's homepage for more stories.
Bernard Arnault, the world's third-richest person and the wealthiest outside the US, heads the world's largest luxury goods conglomerate.
LVMH owns iconic brands such as Louis Vuitton, Dior, and Moët-Chandon.
It owns 75 brands, or "maisons," which it splits into six divisions: wines and spirits; fashion and leather goods; perfumes and cosmetics; watches and jewelry; selective retailing; and other activities. The fashion and leather goods division makes up about half of its revenues.
Its most recent major acquisition was US jeweler Tiffany and Co., which it bought for $15.8 billion in 2021 following a lengthy dispute. It broke records for being the luxury sector's biggest-ever deal.
LVMH's brands collectively have more than 6,000 stores, including about 2,500 in Asia, more than 1,000 in the US, and more than 500 in France. LVMH has more than 200,000 employees and reported revenues of 86.2 billion euros ($92.5 billion) for 2023.
Arnault has been at LVMH's helm for decades.
In 1984, after working at his family's real-estate company, Arnault bought consumer goods and manufacturing company Agache-Willot-Boussac, which owned Dior and department store Le Bon Marché. Arnault turned the "hodgepodge" company into a "treasure trove," The New York Times reported in 1989. He renamed it Financière Agache and sold almost all of the company's assets.
Meanwhile, Louis Vuitton and Moët Hennessy merged in 1987 to create LVMH. Arnault used the money from the sale of Financière Agache's assets to buy a controlling stake in the company, Bloomberg reported. In 1989, he became the conglomerate's majority shareholder, chairman, and CEO.
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